
Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
5G Smartphone: Budget smartphone maker Techno has launched its first 5G smartphone in India. This
Who is the next PM of the UK after Boris Johnson? This leader of Indian origin is ahead in the race
Who will be the new Prime Minister after Boris Johnson resigns as UK PM? Discussions have started
The National Human Rights Commission of India held its third hearing on air pollution in Delhi NC
There is an atmosphere of panic in Pakistan after India attacked Pakistan. Now, several explosion
National Democratic Alliance (NDA) candidate Draupadi Murmu will come to Odisha today in the pres
COVID-19 New Variant: Corona epidemic remains a cause of panic among people. Crores of people acr
Russia-Ukraine war: What is a no-fly zone, which Zelensky is demanding
Ukrainian President Volodymyr Zelensky has appealed for the creation of a no-fly zone in Ukraine
US President Donald Trump has once again taken credit for the India-Pakistan ceasefire and made a
Jack Ryan Season 4 Review: The spy web series Jack Ryan (Tom Clancy's Jack Ryan), which started i
Amazon Prime Day 2026 Dates Revealed: 72 Hours of Exclusive Deals for Prime Members
Amazon has officially announced the dates for its highly anticipated Prime Day Sale 2026 in India